Recent Price Movement and Market Context
On 21 Jan 2026, Delton Cables opened sharply lower, down 3% from the previous close, and continued to slide throughout the trading day. The intraday low of Rs.542 represents the lowest price level the stock has touched in the past year, significantly below its 52-week high of Rs.911.6. The day’s decline of 4.23% also outpaced the sector’s fall of 2.82%, indicating relative underperformance within the Other Electrical Equipment industry.
The stock’s current price is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained bearish momentum. This technical positioning suggests that short-term and long-term investor sentiment remains subdued.
Delton Cables’ recent price weakness coincides with a broader market downturn. The Sensex opened 385.82 points lower and closed down 269.65 points at 81,525.00, a decline of 0.8%. The benchmark index has now recorded a three-week consecutive fall, losing 4.94% over this period. Notably, the Sensex is trading below its 50-day moving average, although the 50DMA remains above the 200DMA, indicating mixed technical signals at the index level.
Within this challenging environment, Delton Cables has underperformed the market significantly over the past year. While the Sensex has delivered a positive return of 7.50% during this timeframe, the stock has declined by 37.79%, reflecting a substantial divergence from broader market trends.
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Financial Performance and Valuation Metrics
Despite the recent price decline, Delton Cables has demonstrated robust financial growth over the longer term. The company’s net sales have expanded at an annualised rate of 44.68%, reflecting strong top-line momentum. Net profit growth has been even more pronounced, increasing by 104.22%, underscoring effective cost management and operational efficiency.
In the September 2025 quarter, Delton Cables reported a profit before tax (PBT) excluding other income of Rs.7.40 crores, representing a 74.3% increase compared to the average of the previous four quarters. The operating profit to interest ratio reached a high of 2.01 times, indicating comfortable coverage of interest expenses.
The company declared a dividend per share (DPS) of Rs.2.00, the highest in its recent history, signalling confidence in cash flow generation. Return on capital employed (ROCE) stands at a healthy 16.4%, supporting the company’s valuation metrics.
Delton Cables is currently trading at an enterprise value to capital employed ratio of 2.5, which is considered very attractive relative to its peers. The stock’s price-to-earnings growth (PEG) ratio is 0.4, suggesting that the market valuation is modest compared to the company’s earnings growth potential.
Shareholding and Sectoral Positioning
The majority shareholding remains with the promoters, providing stability in ownership structure. Within the Other Electrical Equipment sector, Delton Cables has experienced a sharper decline than the sector average, which fell by 2.82% on the same day. This relative underperformance has contributed to the stock’s current valuation discount.
Over the past year, the BSE500 index has generated returns of 5.65%, while Delton Cables has recorded negative returns of 37.79%, highlighting the stock’s divergence from broader market and sector trends.
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Summary of Key Metrics
To summarise, Delton Cables Ltd’s stock has reached a 52-week low of Rs.542, reflecting a 4.76% intraday decline and a 9.34% loss over the last three trading sessions. The stock’s performance contrasts with the broader market and sector indices, which have also experienced downward pressure but to a lesser extent.
Financially, the company has delivered strong growth in sales and profits, with improving profitability ratios and dividend payouts. Valuation metrics indicate the stock is trading at a discount relative to peers, supported by a solid ROCE and a low PEG ratio.
While the stock’s recent price action has been weak, the underlying financial data presents a more nuanced picture of the company’s position within the Other Electrical Equipment sector.
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